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Banking & Finance

All posts and news related to offshore banking and finance in the BVI.

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Chambers Global 2024 Recognises O’Neal Webster’s Dispute Resolution, Corporate, Finance and Funds Practices

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O'Neal Webster
folder_openArticles, Banking & Finance, Christopher Simpson, Corporate & Commercial, Firm, Investment Funds & Regulatory, Kerry Anderson, Litigation, Paul Dennis, Vanessa King
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We are delighted to share that O’Neal Webster has again been recognised in Chambers Global Guide 2024 for the British Virgin Islands jurisdiction in Dispute Resolution and Corporate & Finance, including Funds categories. Chambers rankings are a definitive mark of…
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Guide to BVI Virtual Assets Service Providers Act, 2022

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O'Neal Webster
folder_openArticles, Banking & Finance, Christopher Simpson, Investment Funds & Regulatory
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In December 2022, the British Virgin Islands (BVI) enacted the Virtual Assets Service Providers Act, 2022 (the Act) which came into force on February 1, 2023. The Act introduces a formal supervisory framework for virtual assets service providers. The Act defines…
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BVI Financial Services Commission Announces New Arrangement for Regulated Oversight

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O'Neal Webster
folder_openArticles, Banking & Finance, Corporate & Commercial, Investment Funds & Regulatory, Kerry Anderson
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The BVI Financial Services Commission issued a press release on June 28, 2022, informing practitioners of a significant change to its internal structure. A new Authorisation and Supervision Division (ASD) will replace the current Investment Business, Insurance, and Banking, Insolvency…
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O’Neal Webster Successfully Defends Eastern Caribbean Central Bank in Multi-Million Dollar Claim

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O'Neal Webster
folder_openArticles, Banking & Finance, Firm, Litigation, Nadine Whyte, News, Paul Dennis
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TORTOLA, BRITISH VIRGIN ISLANDS, May 5, 2021 – The O’Neal Webster legal team of Paul Dennis, Q.C. and Nadine Whyte Laing successfully defended the Eastern Caribbean Central Bank against claims in excess of US $200m in total, brought by the…
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INTO THE SANDBOX: FINTECH INNOVATION IN THE BVI

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O'Neal Webster
folder_openArticles, Banking & Finance, Corporate & Commercial, Investment Funds & Regulatory, Kerry Anderson
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BVI Launches Regulatory Sandbox for Fintech Sector On August 31, 2020, the Financial Services (Fintech Regulatory Sandbox) Regulations 2020 came into force, significantly enhancing the British Virgin Islands regulatory framework and providing room for innovation in the fintech sector. The…
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O’Neal Webster Acts for Scotiabank on the Sale of its BVI Operations

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O'Neal Webster
folder_openArticles, Banking & Finance, Corporate & Commercial, Firm, Investment Funds & Regulatory, News, Property & Business
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O’Neal Webster advised The Bank of Nova Scotia, a leading bank in Canada and leading financial services provider in the Americas, on the sale of its British Virgin Islands operations to Republic Financial Holdings Limited. The O’Neal Webster team was…
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O’Neal Webster Advises on JPY 3.8 Billion British Virgin Islands Plan of Arrangement

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O'Neal Webster
folder_openArticles, Banking & Finance, Christopher Simpson, Nadine Whyte, News
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O’Neal Webster has advised on a JPY 3.8 billion British Virgin Islands plan of arrangement which was recently approved by the Eastern Caribbean Supreme Court (British Virgin Islands) on April 6, 2020. Articles of arrangement were subsequently filed with the…
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Eastern Caribbean Supreme Court Adopts Measures for Alternative Effect Of Service On BVI Business Companies

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O'Neal Webster
folder_openArticles, Asha Johnson-Willins, Banking & Finance, Corporate & Commercial, Investment Funds & Regulatory, News, Property & Business
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Prior to the impact of COVID-19, effect of service of a claim form or other document on a BVI Business Company was attained by the physical delivery of service at the company’s registered office or registered agent’s office.  On 23…
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BVI FSC Extends Annual Licence Fee Payment Deadline for Certain Licensees

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O'Neal Webster
folder_openBanking & Finance, Christopher Simpson, Corporate & Commercial, Investment Funds & Regulatory, Kerry Anderson, News, Property & Business
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An important notice came from the British Virgin Islands Financial Services Commission (the Commission) on March 23, 2020. The Commission acknowledged the possible business disruptions that the global pandemic COVID-19 may present for certain licensees in complying with the upcoming…
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What BVI Employers Need to Know and Do in the Present COVID-19 Business Environment

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O'Neal Webster
folder_openArticles, Banking & Finance, Corporate & Commercial, Jenelle Archer, Property & Business
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Over the past few weeks, British Virgin Island authorities and the business community have been actively monitoring the rapidly evolving COVID-19 disease. With the surge of reported cases around the world, and now in the Caribbean, all major stakeholders in…
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